Valero Energy is an independent refinery operator from Texas. The company processes crude oil into gasoline, diesel and jet fuel and produces ethanol and renewable diesel. Its refineries are in the US, Canada and the UK. As of Oct 13, 2026
Valero, based in San Antonio, Texas, makes and markets petroleum-based and low-carbon liquid fuels as well as petrochemical products. The products are sold mainly in the United States, Canada, the United Kingdom, Ireland and Latin America. Its segments are called Refining, Renewable Diesel and Ethanol, and the petroleum refineries are in the United States, Canada and the United Kingdom. Renewable diesel is produced by the joint venture DGD with Darling Ingredients on the Gulf Coast, and ethanol comes from its own plants in the Mid-Continent region. Most of the volumes loaded at the terminals go through unbranded channels, and branded stations carry names such as Valero and Ultramar.
Automatically summarized from SEC annual report (10-K, filed Feb 25, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: yellowMargin: yellowDebt: green
Valero Energy · Sector Energy · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 25, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
2.6% Fiscal year 2025
Rank 24 of 100: higher than 24% of 192 peers (All). weak.
Rank 10 of 100: higher than 10% of 5 peers (Sector). weak.
Median Energy: 6.6%
Operating income divided by revenue: what the core business earns before interest and taxes.
1.9% Fiscal year 2025
Rank 19 of 100: higher than 19% of 237 peers (All). weak.
Rank 17 of 100: higher than 17% of 9 peers (Sector). weak.
Median Energy: 6.5%
Profit after all costs, interest and taxes divided by revenue.
9.9% Fiscal year 2025
Rank 31 of 100: higher than 31% of 218 peers (All). weak.
Rank 28 of 100: higher than 28% of 9 peers (Sector). weak.
Median Energy: 12.4%
Net income divided by equity at fiscal year end.
4.0% Fiscal year 2025 (total assets at year end)
Rank 38 of 100: higher than 38% of 238 peers (All). medium.
Rank 28 of 100: higher than 28% of 9 peers (Sector). weak.
Median Energy: 4.8%
Net income divided by total assets at fiscal year end.
40.9% Fiscal year 2025
Rank 60 of 100: higher than 60% of 239 peers (All). medium.
Rank 50 of 100: higher than 50% of 9 peers (Sector). medium.
Median Energy: 40.9%
Equity as a share of total assets. Usually low for banks.
−11.4% per year
Rank 4 of 100: higher than 4% of 230 peers (All). weak.
Rank 6 of 100: higher than 6% of 9 peers (Sector). weak.
Median Energy: −8.2%
Average growth per year over 3 fiscal years.
+13.6% per year
Rank 59 of 100: higher than 59% of 217 peers (All). medium.
Rank 39 of 100: higher than 39% of 9 peers (Sector). medium.
Median Energy: +13.7%
Average growth per year over 5 fiscal years.
−36.1% per year
Rank 3 of 100: higher than 3% of 157 peers (All). weak.
Rank 6 of 100: higher than 6% of 8 peers (Sector). weak.
Median Energy: −22.4%
Growth of earnings per share per year, adjusted for stock splits.
−0.5% per year
Rank 12 of 100: higher than 12% of 140 peers (All). weak.
Rank 10 of 100: higher than 10% of 5 peers (Sector). weak.
Median Energy: +5.7%
Growth of earnings per share per year, adjusted for stock splits.
60% Fiscal year 2025
Dividend per share divided by earnings per share.
+2.9% per year
Rank 13 of 100: higher than 13% of 118 peers (All). weak.
Rank 19 of 100: higher than 19% of 8 peers (Sector). weak.
Median Energy: +5.7%
Growth of the dividend per share per year.
6 of 9 Fiscal year 2025
Rank 45 of 100: higher than 45% of 134 peers (All). medium.
Rank 50 of 100: higher than 50% of 5 peers (Sector). medium.
Median Energy: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.35 at fiscal year end
Rank 68 of 100: lower than 68% of 199 peers (All). strong.
Rank 50 of 100: lower than 50% of 9 peers (Sector). medium.
Median Energy: 0.35
Long-term financial debt divided by equity.
1.65 at fiscal year end
Rank 60 of 100: higher than 60% of 215 peers (All). medium.
Rank 94 of 100: higher than 94% of 9 peers (Sector). strong.
Median Energy: 1.26
Current assets divided by current liabilities.
−24.1% in 5 years
Rank 97 of 100: lower than 97% of 199 peers (All). strong.
Rank 79 of 100: lower than 79% of 7 peers (Sector). strong.
Median Energy: −5.7%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 122.7B USD · Net income 2.3B USD · Net margin 1.9%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 2.6 USD operating income and 1.9 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 122.7B USD | 100.0% |
| Operating income | 3.2B USD | 2.6% |
| Cost of revenue and operating expenses | 119.5B USD | 97.4% |
| Net income | 2.3B USD | 1.9% |
| Interest expense | 556.0M USD | 0.5% |
| Taxes & other (net) | 277.0M USD | 0.2% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from −2.4% to 2.6%.
Operating marginNet marginReturn on equity rose in 5 years from −7.6% to 9.9%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from 36.3% to 40.9%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio fell in 5 years from 1.71 to 1.65.
Current ratioFree cash flow rose in 5 years from 2.7B USD to 4.6B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count fell in 5 years by 24.1% (mostly through share repurchases).
Diluted share countFor energy companies the gross margin is not meaningful and is therefore omitted.
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
The dividend per share rose in 5 years from 3.92 USD to 4.52 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.The payout ratio fell in 4 years from 172.7% to 59.7%.
Payout ratio (earnings)Payout ratio (free cash flow)Over 5 years, 22.6B USD went back to shareholders, 67% of it through share repurchases.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Valero Energy next to 8 stocks of the sector Energy we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| XOM ExxonMobil | 332.2B USD | +12.9% | – | – | 8.7% | 11.1% | 57.8% | 7.1% | – |
| BP BP (ADR) | 192.5B USD | +1.0% | – | 6.6% | 0.0% | 0.1% | 19.0% | – | – |
| CVX Chevron Corporation | 189.0B USD | +14.8% | – | – | 6.5% | 6.6% | 57.5% | 8.8% | 5/9 |
| MPC Marathon Petroleum | 132.7B USD | +13.7% | – | 6.2% | 3.0% | 23.4% | 20.6% | 3.6% | 8/9 |
| PSX Phillips 66 | 132.4B USD | +15.6% | – | – | 3.3% | 15.1% | 39.5% | – | 7/9 |
| VLO Valero Energy this stock | 122.7B USD | +13.6% | – | 2.6% | 1.9% | 9.9% | 40.9% | – | 6/9 |
| COP ConocoPhillips | 58.9B USD | +25.1% | – | – | 13.6% | 12.4% | 52.9% | – | 5/9 |
| EOG EOG Resources | 22.6B USD | +15.5% | – | 28.2% | 22.0% | 16.7% | 57.6% | 42.3% | – |
| WMB Williams Companies | 12.0B USD | +9.1% | – | 35.1% | 21.9% | 20.4% | 21.9% | 8.4% | – |
| Median of the sector 9 symbols | 132.4B USD | +13.7% | – | 6.6% | 6.5% | 12.4% | 40.9% | 8.4% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 22 symbols in the Energy sector on our list (current members of the S&P 500 and other lists).
+13.6% per year, last 5 years
Sector Energy: median +14.8% (21 symbols)
What does this mean? Revenue: over 5 years it grew by 13.6% per year on average, but more slowly than the median company in the sector (+14.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
1.9% last fiscal year
Sector Energy: median 11.0% (21 symbols)
What does this mean? Of every 100 USD in revenue, 1.91 USD remained as profit – less than the median company in the sector (11.0%). Five years ago the margin was −2.2%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.42 latest balance sheet
Sector Energy: median 0.43 (21 symbols)
What does this mean? For every 1 USD of equity there is 0.42 USD of financial debt – no more than the median company in the sector (0.43). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
60% Dividend / earnings per share
Sector Energy: median 55% (16 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.60 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 55%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
9 of 10 fiscal years with a profit
What does this mean? In 9 of the last 10 fiscal years the bottom line showed a profit. One year ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 122.7B | 2.3B | 1.9% | 7.57 | 4.52 | 60% |
| 2024 | Dec 31, 2024 | 129.9B | 2.8B | 2.1% | 8.58 | 4.28 | 50% |
| 2023 | Dec 31, 2023 | 144.8B | 8.8B | 6.1% | 24.92 | 4.08 | 16% |
| 2022 | Dec 31, 2022 | 176.4B | 11.5B | 6.5% | 29.04 | 3.92 | 13% |
| 2021 | Dec 31, 2021 | 114.0B | 930.0M | 0.8% | 2.27 | 3.92 | 173% |
| 2020 | Dec 31, 2020 | 64.9B | −1.4B | −2.2% | −3.50 | 3.92 | – |
| 2019 | Dec 31, 2019 | 108.3B | 2.4B | 2.2% | 5.84 | 3.60 | 62% |
| 2018 | Dec 31, 2018 | 117.0B | 3.1B | 2.7% | 7.29 | 3.20 | 44% |
| 2017 | Dec 31, 2017 | 94.0B | 4.1B | 4.3% | 9.16 | 2.80 | 31% |
| 2016 | Dec 31, 2016 | 75.7B | 2.3B | 3.0% | 4.94 | 2.40 | 49% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 44.5B | 3.7B | 8.4% | 12.62 | 1.20 | 10% |
| Q1/26 | Mar 31, 2026 | 32.4B | 1.3B | 3.9% | 4.22 | 1.20 | 28% |
| Q4/25* | Dec 31, 2025 | 30.4B | 1.1B | 3.7% | – | 1.13 | – |
| Q3/25 | Sep 30, 2025 | 32.2B | 1.1B | 3.4% | 3.53 | 1.13 | 32% |
| Q2/25 | Jun 30, 2025 | 29.9B | 714.0M | 2.4% | 2.28 | 1.13 | 50% |
| Q1/25 | Mar 31, 2025 | 30.3B | −595.0M | −2.0% | −1.90 | 1.13 | – |
| Q4/24* | Dec 31, 2024 | 30.8B | 281.0M | 0.9% | – | 1.07 | – |
| Q3/24 | Sep 30, 2024 | 32.9B | 364.0M | 1.1% | 1.14 | 1.07 | 94% |
| Q2/24 | Jun 30, 2024 | 34.5B | 880.0M | 2.6% | 2.71 | 1.07 | 39% |
| Q1/24 | Mar 31, 2024 | 31.8B | 1.2B | 3.9% | 3.75 | 1.07 | 29% |
| Q4/23* | Dec 31, 2023 | 35.4B | 1.2B | 3.4% | – | 1.02 | – |
| Q3/23 | Sep 30, 2023 | 38.4B | 2.6B | 6.8% | 7.49 | 1.02 | 14% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $00 people | $0 |
| 6 months | $00 people | $5.7M1 person | −$5.7M |
| 12 months | $00 people | $9.4M2 people | −$9.4M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
Latest news
No posts on VLO yet – log in to join the discussion.
Posts are opinions of users and only visible after logging in. Community rules